The Vinyl Market In America Is Worth More Than YouTube, Vevo And Spotify (Put Together)

Hold tight all the vinyl junkies out there.

Image via Wikimedia

The vinyl market in the States has officially overtaken the streaming model. According to the Recording Industry Association of America (RIAA), vinyl sales in America now contribute more to the music industry than streaming services like YouTube, Spotify Free and Vevo, which is particularly impressive since streaming revenue recently hit $1 billion. This may not come as a surprise to some as streaming services have long been maligned for the amount of money they actually feed into the music industry. 

There are, however, a couple of caveats to bear in mind. Firstly, it's worth noting that for the first six months of 2015 streaming services overtook the physical market, growing 23% to $1.03 billion in the States. Secondly, these figures don't take Apple Music into account (the service's launch coincided with the final day of the report period). 

That said, this is still fantastic news for vinyl-lovers, record labels and shops alike, particularly with the news that a slew of record-pressing plants are opening up across North America to meet the demand.

[via FACT]

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